Tea’s import increased by 2.21% in the first four months of the current fiscal year when compared to the same month last year.
According to Pakistan Bureau of Statistics (PBS) data, tea imports totaled $192.474 million from July to October (2022-23), compared to $188.304 million from July to October (2021-22).
However, tea imports decreased by 8.90% during the period under review, falling from 84,590 metric tones last year to 77,065 metric tones during the same months of the current fiscal year, according to the data.
Tea import increased by 54.09% year on year (YoY) in October 2022 when compared to the same month last year. In October 2022, the country imported tea worth $57.272 million, compared to $37.169 million exported in August.
Tea imports increased by 32.30% month on month (MoM) when compared to September 2022 imports of $43.290 million.
In terms of volume, tea imports into the country in October 2022 totaled 22,829 metric tones, up from 17,360 metric tones in September 2022 and 16,121 metric tones in October 2021, representing a 31.50% increase over September 2022 and a 54.09% increase over October 2021.
Overall food imports into the country increased by 9.71% during the first four months of the current fiscal year to $3,431.022 million, up from $3,127.240 million in July-October (2021-22).
It is worth noting that overall merchandise imports into the country decreased by 16.21% during the first four months of the current fiscal year, falling from $25,084 million in the previous year to $21,018 million from July to October (2022-23).
Exports increased by 0.94% to $9,549 million during the period, compared to exports of $9,460 million during the same period last year.
According to the data, the trade deficit was $11,469 million this year, down from $15,624 million the previous year, representing a 26.59% decrease.
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